Here’s How “External Dollar Debt” Produces An “Emerging Market Crisis”

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Emerging market currencies are collapsing pretty much everywhere these days. But it’s safe to assume that most people don’t understand exactly what’s causing this outbreak, why it’s happening now, or what “external dollar debt” has to do with it. So here’s a quick primer followed by the obligatory apocalyptic prediction: Prelude: cheap dollar financing Pretend […]

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